Neonet to provide access to Turquoise Block Discovery at launch 20.10.2014
New service enables customers to find matches for larger blocks Stockholm, London 8th October 2014. Neonet, the independent agency broker and execution specialist, today announced that it will provide access to Turquoise Block Discovery™, the new service from Turquoise from its go-live date.
“Here at Neonet we closely follow the evolution of the European trading landscape in order to offer our clients the best access to relevant liquidity,” said Tim Wildenberg, Chief Executive Officer of Neonet. “We are very pleased to be announcing our access to Turquoise Block Discovery™, it brings a fresh solution to the demands of the Buy side and sits nicely with Neonet’s transparent and unconflicted execution offering.”
“We are delighted Neonet is including Turquoise Block Discovery™ as a choice for its demanding customer base seeking high discretion with sensitive, large orders,” said Robert Barnes, Chief Executive Officer of Turquoise. “Neonet offering Turquoise Block Discovery™ from go-live is a positive endorsement of our new service.”
Turquoise Block Discovery™ aims to increase probability of anonymous matching in larger sized orders within Turquoise Uncross™, the periodic random uncrossing mechanism within the Turquoise Midpoint Dark Book. Turquoise Block Discovery™ identifies potential matches from block indications and firm resting orders in Turquoise Uncross™, where members have opted in to use the service. If a potential match is found, the owner of the original indication has 0.5 seconds to send a firm qualifying block order to Turquoise Uncross™, thereby maximising available liquidity for customers of both services.Turquoise Block Discovery™ is set for launch from 20th October 2014.